ExtraMOT green segment continues to grow with Iren’s second bond

Sep 19 2018 - 12:28

  • €500 million countervalue
  • Fixed rate coupon: 1.95%
  • Expiry date: 19/09/2025

Borsa Italiana today welcomes Iren’s second bond on ExtraMOT PRO green segment. The seven-year dated bond placement is for an overall value of €500 million at 1.95 per cent. The bond is admitted today to the green and social segment of ExtraMOT PRO, which offers institutional investors the opportunity to identify those instruments whose proceeds are used to finance green, social and environmental projects.

The utility company’s new listing received strong demand from international investors and it joins the 65 sustainable instruments already traded on the green and social segment of Borsa Italiana’s Fixed Income markets.

Pietro Poletto, Global Head of Fixed Income Products & Co-head of Equity, funds & Fixed Income, London Stock Exchange Group:

"We are delighted that Iren has chosen, once again, ExtraMOT PRO green segment for its second bond. Listing debt instruments on Borsa Italiana’s markets allow companies to seek growth opportunities through a sustainable market. There is an indisputable shift in momentum in green and sustainable financing across the world and Borsa Italiana is proud to be spearheading the growing global green and sustainable financing movement, promoting best practice, and witnessing the success that this new green segment is having amongst investors and issuers"

Paolo Peveraro and Massimiliano Bianco, respectively Chairman and CEO, Iren Group:

"Iren’s attention to sustainability is a response to the ever-growing interest from both the market and investors in ESG issues. The proceeds of the new bond will be used to finance investments that will benefit our clients and citizens in our operating areas. We have been able to successfully replicate the listing of a new green bond thanks to Iren’s growing reputation for sustainability and the creation of tangible projects. Today’s issuance demonstrates that the markets recognise the Group’s robust sustainable profile in financial, environmental and social matters. Iren is the only local utility that has issued two green bonds to date, which represent around 40% of the company’s bond portfolio. This approach, capable of integrating financial best practices and social and environmental responsibility themes, will be one of the pillars of the new business plan which will be presented by the end of September."

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